The Georgia GOP Just Crushed Our Middle Class

Atlanta, GA – Today, the U.S. House narrowly passed a budget resolution to implement massive tax cuts for corporations and the 1% at the expense of Georgia’s middle class.

“At a time when Georgia families are already being crushed under the weight of income inequality, Georgia’s Republican delegation chose to vote in lockstep with Donald Trump to drive up their taxes. Democrats believe you grow the economy from the middle out. We will continue to fight for the middle class and the assurance that corporations and the wealthy pay their fair share.” – DuBose Porter, Chair

The Impact in Georgia

TAX CUTS FOR WEALTHY:

By passing the budget, Republicans have cleared the first hurdle in moving forward to a vote on a tax bill that has been written in secret and few have seen. If the Republican tax plan were to pass:

The richest one percent of Georgia residents would receive 75 percentof the state’s total tax cuts in 2018. These households are projected to earn at least $552,200 next year and would see an average tax cut of $83,070 in 2018.

In stark contrast, middle-class Georgians would only receive five percent of the state’s total tax cuts. These households would only getan average tax cut of $260 in 2018.

Millionaires alone would get 65 percent of the state’s total tax cuts. Their average tax cut would be 504 times the tax cut middle class families would get.

More than 20 percent of Georgia households would face a tax hike if the GOP tax plan was in effect in 2018.